The team at Polonious is pleased to announce the release of our new research report, Investigation Insights.
Investigation Insights contains new research into the performance, effectiveness and challenges of special investigation units, and communicates how better insights can drive improvements in productivity.
During the International Association of Special Investigation Units (IASIU) conference held virtually on September 14 and 15, 2020, Polonious ran a panel discussion with some of the world’s leading investigation professionals.
Prior to the panel a short survey was conducted with 24 of the investigation professionals about approaches to performance management within SIUs, and the results were remarkable.
- Almost a third of respondents do not have a system for measuring the effectiveness of the SIU, and about a third of those that do measure effectiveness are not allocating costs.
- Around half of respondents do not record the number of false positive referrals regardless of source — whether they come from claims teams or from automated tools.
- Limited tracking and reporting of false positives has a detrimental effect, because processes cannot be improved without this information.
- Around 80 per cent of respondents measure performance of the SIU by the number of referrals. Number of referrals in isolation limits the ability for the SIU to improve customer service or identify opportunities for automation and must be seen in the context with other measures — especially considering the number of false positives and rejected claims.
- A significant measure of the contribution an SIU makes to the organisation is ROI — costs versus savings on claims — but few respondents are tracking those reliably.
- Many respondents are taking indirect measures such as training to improve SIU performance.
- In terms of productivity, most organisations are using broad measures such as cycle time, but not looking at more granular indicators like time per stage.
- Looking more closely at productivity can identify faults in the investigation process and improve overall performance of the SIU.
- Less than half of respondents measure the quality of investigations, which means more than half are leaving themselves vulnerable if findings are disputed.
- Less than half of respondents apply measurements of productivity and performance to the vendors they use.
The research uncovered a generally low level of detailed performance measurement and Polonious recommends detailed performance information being fed back to managers to improve referrals and find efficiencies that will drive value for SIUs. You can download the report from our website here.